No one can take joy at the family turmoil that is about to become real after these years of marketplace fantasy. But it’s a huge stretch to make a case that most of these borrowers — many of whom put no money down, or signed up for loans on which they paid only the interest for several years, or used what equity they did have as a piggy bank to spend on other things — own the property at all. Legally, yes. In reality? No. … Calling it home ownership when someone has zero equity (or less) is absurd. Some of these people are not victims in the slightest, except of their own greed or foolishness, or both.